The Alberta Securities Commission has concluded a settlement with Rene Laprade, former director of Sahara Energy Ltd. and former director, CEO and president of Mirage Energy Ltd. regarding allegations that he engaged in illegal insider trading of Mirage Energy securities in February 2008, the regulator said Wednesday.

Laprade agreed to pay the ASC $10,000 to settle the allegations against him, plus $500 towards costs of the ASC investigation. Laprade also undertook to cease trading in securities and to refrain from relying on exemptions and from acting as a director of any issuer for 12 months.

In the settlement agreement, Laprade admitted that he was aware of a business combination between Sahara Energy and Mirage Energy and sold his shares of Mirage Energy before the agreement was disclosed to the public. By doing so, he avoided a financial loss of $3,000.

A copy of the settlement agreement is posted on the ASC website at www.albertasecurities.com.

IE